Notes to help (please contribute) (1 Viewer)

[miss-teek]

THE IMPORTANCE OF EFFECTIVE MANAGEMENT

Management is the process of achieving objectives effectively with and through other people. This is a process undertaken by a manager, and is achieved through POLC.

PLANNING is a process whereby the manager defines realistic and achievable goals, establish strategies by which to achieve those goals, and develop plans outling these goals and strategies.

ORGANISING this process involves interpreting plans and identifying the tasks that need to be done. A process of delegating will follow this, after deciding on who will do the tasks and how they will do them.

LEADING refers to directing and motivating workers.

CONTROLLING involves monitoring and evaluating actual performance against plans. This activity also requires improvement being made where this is neccessary.

An EFFECTIVE manager is one who is able to select organisational goals and achieve them.

Managers need to be proactive (taking direct actions to control events) and have knowledge about their business.

MANAGEMENT ROLES

INTERPERSONAL

Figurehead - perform roles which symbolise their position within the business - great authority.

Leader - motivates employees

Liaison - Establishes and maintains a network of contacts and interacts with other organistions

INFORMATIONAL

Monitor - seeks and recieves information from a variety of sources to gain a better understanding of the business and its environment

Disseminator - shares information with a selection of employees within the business.

Spokesperson - presents information to external stakeholders regarding the business's plans, polieis, results and structure.

DECISION MAKING

Entrepeneur - scans the environment for opportunities and initiates projects to improve preformance, thus bringing about change.

Disturbance handler- deals with issues and crisses inside and outside the business and taks corrective action

Resource allocator - Decides who should get what resources and allocates th human, financial, phsical and informational resources.

Negotiator - Participats in negotiations with other parties

SKILLS OF MANAGEMENT -

PEOPLE SKILLS - the ability to work with people effectively and harmouiously

STRATEGIC THINKING - ability to see the business as a whole

VISION - a clear, shared sense of direction so as to achieve a common goal

FLEXIBILITY AND ADAPTABILITY TO CHANGE - the ability to anticipate, respond and adapt to change

SELF MANAGING - set personal goals and achieve and evaluate them whilst maintaing a realistic idea about personal strengths and weaknesses.

TEAMWORK - such as the ability to listen, support and interact

COMPLEX PROBLEM SOLVING AND DECISION - MAKING - the ability to break down a problem, identify the implications and find the most suitable solution.

ETHICAL AND HIGH PERSONAL STANDARDS - Ethical standards relates to the ability to devise and implement a standard of behaviour which emphasises the relationship between customers and suppliers.

I based my notes straight off the syllabus. Please contribute to this strand. I will do so as much as I can. We are up to 'Responsibility to Stakeholders'.

HOPE THIS HELPS!

 

[Ezzmaye]

Hi,

do u have any more info for this section?

Thanks

 

[miss-teek]

When do you need them by? Cause I do have some, but I'll need to type them up.

 

[Modern Hot Chic]

Notes continued

RESPONSIBILITY TO STAKEHOLDERS-
 Manage change

Stakeholders want a business to survive and for this to happen, business must manage change in both its internal and external environments.
 Social justice

This is the idea that business has a responsibility to consider the impacts of its actions on society. Business should use its expertise and resources to contribute to society, for example by increasing employment during a recession.

 Ecological sustainability

This is the concept that business development should leave the environment in the same condition for future generations. This can be practiced by business by recycling their waste materials, adopting greenhouse abatement measures or using biodegradable products.

 Compliance with the law

This is the responsibility of business to act lawfully according to government regulation and legislation. Some of the legislations that have emerged over the last few decades include;

The Corporations Act 1989
Occupational Health and Safety Act 1983
Anti – Discrimination Act 1984
Human Rights and Equal Opportunity Act 1986
Sex discrimination Act 1984

While many of these Acts were enacted several years ago, it doesn’t make them any less important because they are constantly being added to and amended as the situation requires, not only in the business situation but also within society generally.

 Codes of practice

These are a collection of regulations, rules and standards relating to a particular industry of profession. They are not necessarily enforceable at law, but are important in the day to day running of a business from an ethical point of view. For example, there are codes of practice relating to the advertising industry, legal and accounting professions and the retail industry.
RECONCILLING CONFLICTS OF INTEREST -

Conflict of interest can occur between management and the environment, employees and management and government and management over such things as the destruction of the environment, rates of pay and working conditions and social justice issues. It is the responsibility of management to ensure that conflict is kept to a minimum and that any conflict that does arise is reconciled as quickly and efficiently as possible.

UNDERSTANDING BUSINESS ORGANISATIONS WITH REFERENCE TO MANAGEMENT THEORIES

The management philosophy that a business adopts will have an enormous impact on all aspects of business activity, especially:

 The organization and allocation of tasks to staff
 The organizational structure
 Management styles

 

[Logain]

Wow, thank you guys. This helps a lot.

 

[JJ08]

Thats alot, that helped me too

 

[chrisbro1990]

Thx for these notes they're helping me alot

 

[Dark Phoenix]

Notes Management and CHange

Hey Everyone these are my notes for business studies - management and change. i submitted my notes to boredofstudies resources but it seems that they havent posted it on the website yet. well anyway here they are. the notes are a combination of HSC Business Studies (Sykes), Heinemann Business Studies, Excel and Jacaranda.

View attachment 14176

oh...and also make sure u can answer these following questions which i made prior to the HSC. they are key points from the syllabus, i just reworded it into a question. if u cant answer a question, make sure u revise that particular area. try to put alot of detail in ur answers if u can (say at very least 1 paragraph). if u can eventually answer these questions before the the HSC or any exam, u will definately succeed in this subject. ill put up more Business Studies notes for the other topics another time.

Management and Change Key Questions

1.What is the importance of effective management?
2.What are the management roles?
3.What are the skills of management?
4.What are the responsibility to stakeholders and reconciling conflicts of interest?
5.Explain the different management theories
6.What are the weaknesses and strengths of each theory?
7.What are the systems and contingency theory?
8.What are the nature and sources of change in a business?
9.What are the reasons for resistance to change?
10.What is involved in managing change effectively?
11.What is involved in change and social responsibility?